Vir Biotechnology CEO sells $152,407 in stock

Vir Biotechnology, Inc. (NASDAQ:VIR) recently reported stock transactions by its Chief Executive Officer, Marianne De Backer, according to a Form 4 filing with the Securities and Exchange Commission. On February 24, De Backer sold 16,122 shares of common stock at an average price of $9.4534 per share, totaling $152,407. The sale occurred as the company’s stock, currently trading at $9.16, has shown strong momentum with a 29% gain year-to-date. According to InvestingPro analysis, Vir Biotechnology appears undervalued, despite rapidly burning through cash.

Earlier, on February 22, De Backer acquired 240,000 shares of common stock at no cost, as part of the company’s Equity Incentive Plan. Additionally, she was granted stock options for 480,000 shares, exercisable at $9.57 per share, with vesting beginning in February 2026. With the company’s market capitalization at $1.26 billion and its next earnings report due February 26, InvestingPro subscribers can access 8 additional key insights about VIR’s financial health and growth prospects.

Following these transactions, De Backer holds 849,217 shares directly and an additional 53,118 shares indirectly through the Ureel-De Backer Family Trust.

In other recent news, Vir Biotechnology has reported encouraging safety and efficacy data from its ongoing trials for dual-masked T-cell engagers, VIR-5818 and VIR-5500. The initial Phase 1 data highlights promising clinical responses, with VIR-5818 showing tumor shrinkage in 50% of participants with HER2-expressing cancers and VIR-5500 demonstrating positive prostate-specific antigen declines. Morgan Stanley (NYSE:MS) upgraded Vir Biotechnology’s stock from Equalweight to Overweight, doubling the price target to $20, citing potential revenues from the VIR-5500 program. Meanwhile, Goldman Sachs maintained its Buy rating with a $28 price target, noting the strategic shift into oncology could drive value creation. JPMorgan also raised its price target to $14, emphasizing the promising activity of the TCEs in solid tumor subsets. Additionally, Vir Biotechnology announced an executive change, appointing Maninder Hora as the new Executive Vice President and Chief Technical Operations Officer, effective February 27, 2025. These developments indicate ongoing strategic shifts and potential growth opportunities for the company.

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